Trust Fund Plan
Definition of "Trust fund plan"
One of two basic types of funding instruments for pensions or employee benefits, in which responsibility for plan assets is vested in a trustee. The other type is known as an insured plan, whose assets are held by a life insurance company, typically under a group annuity contract that guarantees payment of benefits. A combination plan makes use of both approaches, with some contributions going to a trustee and the remainder to an insurance company.
Popular Insurance Terms
Eligible rollover distribution that is paid directly from an employee's employee benefit insurance plan to the employee's individual retirement account (IRA) or to another plan maintained ...
Systems composed of personal computers linked by a file server. These computers share software as well as databases that enable the risk manager access to information in a quick and ...
Person who engages an agent or broker for advice and possible purchase of insurance. ...
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Time limit on the deferred ownership of property such that, 21 years after the property owner dies, the deferred ownership of that property terminates. ...
Basic requirements of an employee benefit insurance plan such as minimum age and years of service with an employer. ...
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Automatic reinsurance that requires the insurer to transfer, and the re insurer to accept, a given percentage of every risk within a defined category of business written by the insurer. For ...
Actual price paid for property when it was acquired. The original cost might apply to a piece of jewelry, to a piece of equipment, or to a building. For insurance purposes, original cost is ...
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